- Toyota Motor Corp (NYSE:TM) has cut its June global production plan for the second time in a week due to the COVID-19 lockdown in Shanghai.
- The auto major cut production by 50,000 vehicles and now anticipates producing about 800,000 units in June.
- It has decided to suspend domestic factory line operations for the week of June 6, on top of the suspension announced earlier.
- The company now sees an average global production plan from June through August to 850,000 units per month and 9.7 million units for the full period of Fiscal Year 2023.
- Toyota has warned that the production may also be lower than cited due to the volatile supply chain situation.
- Price Action: TM shares closed higher by 2.79% at $165.53 on Thursday.
- Photo Via Wikimedia Commons
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
Toyota Cuts Production Plan For June Again
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks